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at least the house of representatives will not vote on any deal to avoid the fiscal cliff. what is the latest? >> seconds ago, confirmation that, in fact, the house will not take up any fiscal cliff vote tonight even if the senate manages to get a piece of legislation to the floor and gets over the hurdles we have talked about. if there are the votes to get it on the senate side question confirm, right now, from our people on capitol hill, including chad, who you just talked to, the house will not take up any fiscal cliff vote even if the senate does pass something tonight as you look at the senator from missouri speaking on the senate floor. that means the country is going over the fiscal cliff technically. as we have known congress to do before, you can have maneuvers by which they rewind the clock and if they go into tomorrow and they actually pass a piece of legislation they can rewind it to the point they need to be. some of the stipulations about the sequester and those are the across-the-board cuts do not kick in, until january 2nd so those are some of the things people a
confirming they are going to the white house tomorrow to try to find a solution to the fiscal cliff. a with us white house official saying the president will movie theater harry reid, mitch mcconnell, john boehner and nancy pelosi. if they can't work this out and we go over the cliff it means smaller pay checks automatic spending cuts and according to some economists possibly another recession. molly henneberg tracking developments tonight at the white house. what are you hearing? >> hi, harris. senate republican leader mitch mcconnell confirmed it and the white house made it official. there will be a hearing here tomorrow according to a white house aide. it will be on the schedule that the president will talk fiscal cliff with those four top congressional leaders that you mentioned, harris. the president returned to washington today. he cut his hawaiian vacation short to get back to the white house for any possible last minute fiscal cliff meetings and it appears there will be one tomorrow. harris? >> well, what kind of response is the president getting from lawmakers at this point
obama cutting his vacation short to avoid the fiscal cliff but house speaker john boehner says the people who need to take action are not in the oval office. >>> as the investigation continues into the deaths of four americans in libya we're learning people who were initially blamed are back on the payroll with little or no punishment. >>> unbelievable video. some aquariumgoers getting way too close to a real live shark. as close as you can get without becoming dinner. it is all "happening now." harris: hello, everyone, i'm harris faulkner, in today for jenna lee. jon: nice to have you up here in the big studio instead of down in the newsroom. harris: good to be here. jon: i'm jon scott. there is deadly weather pounding the united states. a powerful winter storm bringing snow and driving rain to the northeast. blizzard conditions in some areas. it is the same system that brought winter storms and tornados to the south and midwest. at least 12 people have died in this system. we're seeing major travel problems today as well. some areas are getting slammed all night long. anna ko
. the senate is working on issues other than the fiscal cliff. the house doesn't return until sunday. president obama got back today but no significant progress towards a deal. democrats and republicans are fighting about process and issues. republicans want democrats to come up with a new proposal. house republicans say sign on to their proposal, keeping tax ritz rates where they are. when it comes to this impasse, both sides have taken to blaming one another. >> the house of representatives is operating without the house of representative. it's being operated with a dictatorship of the speaker. not allowing the vast majority of the house represents to get what they want. if the 250 would be brought up, it would pass overwhelmingly. >> we wanted an agreement. but we had no takers. the phone never rang and so now here we are five days from the new year and we might finally start talking. >> even if democrats and republicans, their leadership and the president, were to strike a deal on the fiscal cliff, it will take a couple days for the senate to work through it, the house to work through it an
the president cutting his holiday vacation in hawaii short to get back to work on avoiding the fiscal cliff. the white house says the president is set to return to the nation's capital tomorrow morning to try to hammer out a deal where lawmakers on stopping automatic tax hikes and deep spending cuts from kicking in, which is set to happen, if you're not watching the calendar, six days from now. if they don't reach a deal many say it could send the country right back into recession. ed henry is live in honolulu, hawaii. is this a sign the president sees progress in the talks? >> reporter: well, good to see you. it may be the opposite. the president's not seeing progress and wants to get back to washington as soon as possible to goose the process. time is running out. economists say we could go into another recession if the fiscal cliff is not dealt with. we just learned house republicans convened a conference call with members to say be on 48 hours notice to come back to washington in the next few days to deal with this one way or another. the senate coming back into session tomorrow morning
that the senate controlled democrats is working this week, they are not working on fiscal cliff matters and the house won't even be back to work sunday two-days before the end of year deadline. theoretically these guys have time to get something done here. it is also possible at today's meeting at the white house may be simply window dressing. >> see what happens ten hours from now. time now to take a look at who is talking and this morning we are hearing from charles krauthammer. >> last night on hannity he was talking about the looming fiscal cliff and the president's approach to negotiations. krauthammer giving his take on why a deal has not been reached yet. >> it has been very clear from the beginning that he had no intention to solve the fiscal issues. he has been using this and i must say with great skill and ruthless skill and success to fracture and basically shatter the republican opposition, the only redut of the opposition is the house. his objective from the very beginning is to break the will of republicans in the house and create an internal civil war. he has done that ri
right off the fiscal cliff. take a live look at the white house where president obama called the top house and senate leaders from both parties to try and hammer out a deal avoiding the tax hikes and crippling spending cuts. remember analysts say falling off the fiscal cliff could drive the u.s. into another recession. more than a month has passed since the last time they got together. the obama administration called that mid another meeting constructive but there has been little to no progress. today lawmakers on both sides of the aisle tried to strike an optimistic tone. >> millions of americans are out there struggling and certainly they deserve a congress that will avoid going over the fiscal cliff, which is why the president has been working hard to bring leaders together. >> we can't continue to kick the can down the road with half measures. i think the market will respond in a permanent and negative way to our inaction. >> the chairman of the senate finance committee says it comes down to this meeting adding i wish them luck. it would be a great new year's present for the coun
speaker of the house john boehner failed last week to pass a fiscal cliff pill after pushback from some conservatives. now, speculation that he might be pushed off the political cliff and be kicked out of the top job in the house. joining us now from nashville, republican strategist chip saltz mapp and here in the studio with me, anthony holmes. also a republican strategist. i first started hearing of this a couple of weeks ago. i know john boehner and like him a lot. people are oh, we lost the election, time to to something. how to there is this supposed mini revolt. anything to this? >> looks like there could be. the greater thing is it is philosophically disengine with us to spend 8 months telling americans that tax increases hurt the economy and turning around 8 weeks later after the ehe election and offering to surrender a one year debt ceiling pore tore yum and increase taxes under the guise of helping the economy. philosophical. >> laura: the reality, though, anthony is that they lost the election in november. so the taxes are going go up. i mean the idea that -- taxes going to g
or not there will be a deal to avert the fiscal cliff. now, after that conference call. the house speaker john boehner, his number two eric cantor the majority leader put out a statement putting the onus on president obama and for the reason why there has not been a deal so far. basically saying they can't move forward in the house without some sort of action in the senate the next few days. what they left out of that, unfortunately, is the reason why they are waiting on the senate to do something. the senate coming into session tomorrow, by the way. is that speaker boehner couldn't get enough votes to move forward on a plan to avert the cliff last week. that's why we are where we are right now. the president will be boarding air force one in a few hours. flying overnight back to washington. is he likely to bring together congressional leaders in the next couple days when he he gets back to washington. time is running out, harris. >> harris: no breaking news in any of that. but we did see some today. treasury secretary tim geithner saying we could hit the debt ceiling the day after we follow off the fiscal
-- the fiscal cliff and the amount of the bill. the fiscal cliff is sucking all the oxygen out of the room. it is possible that the sandy relief bill could be tacked on to any other bill, it is not certain. also, some conservative lawmakers want a smaller bill to go to the recovery, not the one passed by the senate. with the tight economic situation, they may want to scale it back or include spending cuts elsewhere to offset the cost of the aid package. when it was going through the senate, 12 senate republicans voted for passage of the sandy bill. the rest voted against t. now te possible holdup in the house has led governors of new jersey, new york and connecticut, to lean on the lawmakers, writing, so the question to each and every member of the house is, if this storm had struck your constituency and devastated it the way sandy has ours, would you say that the house has done enough? with the house reconvening to help the nation avoid the fiscal cliff, remember that disasters affect every region of this nation and that we as a nation stand together in times of crisis. house g.o.p. speak
vacation to get back to the white house for possible last minute fiscal cliff talks leaving his wife and daughters in hawaii. the vice president is scheduled to be here today for meetings. don't forget the obama administration and congress have the debt ceiling hanging over them. the u.s. set to hit the borrowing limit of over $16 trillion by the end of the year. there's a lot going on at 2012 winds down. in congress, the senate is in session, the house is not. it's the first time either chamber has been in session for business between christmas and new year's since 1970. >> trace: so they're coming back to work. the president probably wished he stayed in hawaii because not much has changed. >> both sides are waiting for the other to make the first move. senate republicans are ready to look over a plan the democrats put forth but they say there's no plan. this morning the top senate democrat, harry reid, chided the top house republican, john boehner, nor not calling the house legislators back into zes speaker boehner should call them back today. he shouldn't have let them go in fact.
that he thinks this will fiscal cliff matter comes down as one white house meeting two hours from now. another top senate republican said a short time ago that he was calling on president obama to lead. >> the president is not a senator anymore. he's a president. just as president reagan worked to deal with tip o'neill and bill clinton and president eisenhower, we need leadership on not just taxing rich people, but we contact them and it wouldn't help the medicare fiscal cliff. greg: others are skeptical, noting that high-profile meetings are for show often times and all about tactics. we expect the president will try a stopgap measure extending middle-class tax rates, extending unemployment benefits for some 2 million americans, do some small spending cuts now, but not entitlement reform. an ally of the white house and the house of representatives offered this. >> this is not for show. it is a last-ditch effort by the president to bring the congressional leaders together to try and get at least a small package. a small deal together before the new year. in order to avoid some of the
at the white house in a last-ditch effort to come to agreement on the fiscal cliff but neither side is optimistic that a deal will be reached by the deadline. what will it mean for american people? eric? >> eric: well, i'm on the record saying we should name it the obama cliff and swan dive off of it. the only way the democrats will cut spending, because they're forceed in to it. if nothing happens, and the deal is not truck, people paycheck get smaller because the payroll taxes expire. people will have to pay in their taxes to a different way. the alternative minimum tax won't be patched and we'll have to be addressed as well. taxes will go up. spending cuts over time will happen as well. i think the stock market will be hit hard. i have the most to lose than anyone i know but the only way to fix the economy. >> eric: president obama wants tax cuts to expire for everyone except those making under $250,000 a year. john boehner plan "b" making $1 million. this looked like president obama coming back with the same deal at 250. they are miles apart. >> kimberly: you were able to speak
america off the fiscal cliff. let's go to capitol hill fox news chief congressional correspondent mike emanuel live with the latest. >> we are heading into a critical weekend as a final push is made to keep the u.s. economy from going off the fiscal cliff. after a late afternoon meeting with the top four congressional leaders at the white house, president obama offered this assessment. >>> i'm modestly optimistic -- nobody is going to get 100% of what they want. but let's make sure that middle class families and the american economy and in fact the world economy aren't adversely impacted because people can't do their jobs. >> sources say house speaker are john boehner deferred to senate colleagues and told them house leaders would consider, accept or amend their plan. what s not expected to be included in any deal is increasing the debt limit, something democrats have wanted and republicans have resisted. >> we he haded a long meeting in the white house and it was constructive. we hope that it will bear fruit. but that is what we hoped a lot. i think that the next 24 hours will be very
goes over the so-called fiscal cliff. fox chief white house correspondent ed henry has been at the white house, covering it all day. ed, where do things stand? >> good to see you, dana, you've been through the budget battles. the bottom line, there's not a lot of progress, so the white house is here and waiting and looking at what kind of last minute negotiations were going on, on capitol hill behind closed doors, but the senate majority leader harry reid a short time ago going home and basically saying that he will be back in the senate until tomorrow at 11 a.m., suggests that we're edging closer and closer to that cliff, but what the president did today. as he did something rare, he went on the sunday talk show for the first time in three years, went on nbc's meet the press and the last time he did one of the shows was promote health care reform today and try and back republicans back into a corner and suggested that maybe he's starting to play the blame game and saying if we go off the cliff it's going to be republicans fault. take a listen to what he had to say. >> not b
a deal on the fiscal cliff. however, chief white house correspondent ed henry tells us that washington may have to set with a backup plan to the backup plan. >> christmas tradition for president obama. he and first lady michelle obama saying thanks at the marine corps base hawaii. >> so many of you make sacrifices day in and day out on behalf of the freedom and behalf of the security. >> now the president is giving up some vacation time rushing back to washington aboard air force one late tonight to deal with the looming fiscal cliff. after that red eye, the president will no doubt need coffee. starbucks decided to get political in the washington, d.c., shops, by having employees write come together on cups. ceo howard schultz writing in open letter, "my hope is the simple message will serve as holiday reminder from starbuck of the spirit that bridgeed differences and we have the power to come together and make a difference in every season of the year." the president and speaker john boehner have not spoken in nearly a week. when the house republicans convene conference call today, all
. the house has passed legislation to avoid the entire fiscal cliff and senate democrats have not. now they are coming into the meeting and there is already acrimoney instead of reconciliation. >> part of the problem, i am sorry, the house passed two spending bills and ideas to meet the fiscal cliff and cent -- subject it to the senate. they have two over there . john boehner said let me get third plan b . everybody is like where are the republicans on this? they should have stayed firm on the ryan plan. it was the best . back track a year ago. this stems from the failure of the super committee that stemmed from the simpson-bowles commission failing. simpson-bowles. they got together and made the recommendation to president obama who commissioned that study can. >> kelly: and yet rejected it. >> that fail would and went to the super committee. they need to get together. >> julia: if you watched fox news channel yesterday. there is a map with red dots and that is the newspaper and the lower hudson valley of upstate new york published the addresses of gun owners and now as you were talki
the country from going off the fiscal cliff and so, the wild card is what the house republican also do but they think the senate can give them a little bit of cover if it's a strong bipartisan vote in favor of this package, trace. >> >> mike emanuel life for us on capitol hill. mike, back to you as the news warrants. traders on wall street seem to like the progress that lawmakers made at least earlier today. that gave a nice boost to our 401(k)'s. take a look how the dow performed. you can see the spike beginning around 1:00 p.m. as details of the framework began to emerge. the dow ultimately closed up triple digits. we have complete coverage of the wall street impact and the debt ceiling inside fox report. well, doctors say secretary of state hillary clinton is making excellent progress and they predict that she will make a full recovery after receiving treatment for a blood clot but secretary clinton is apparently still spending new year's eve in a new york city hospital. a spokesman says doctors found the blood close yesterday. they were performing a follow-up exam after secretary c
the fiscal cliff. >> the president won't be doing this but the white house will be. >> that's right. it will be interesting to see if we get response out of this. people in the meeting with the president could come to the microphones. so could c.e.o.s. >> we wanted to let you viewers know we're going to monitor the white house. we have two cameras focused on the white house waiting for the leaders to leave and specifically see if they approach a microphone and camera and let us know what's going on. we'll take that if we get that. thank you, gerri willis. >> you know how he protected other nation's border but wait until you hear how sheriff aarpaio wants to protect our schools. he's here next. blah >>> you're looking live at the white house just outside the white house, senator john kerry, for some reason he's outside the white house. inside, president obama and the house and senate leaders. we'll keep our eye on. ,. >>> a border battleon the mexican government using our court system to fight arizona's sb1070 immigration law. it wants a u.s. circuit court of appeals to block part th
the fiscal cliff was 10 days ago. republican leaders in the house are waiting for the senate democrats to act. they want to see what kind of bill harry reid brings forward on the floor. he is looking at republican leader mitch mcconnell to say what are you willing to accept? so here we are. there is blame game going on. there is lot of maneuvering still. bottom line we'll probably meet this weekend heading up to the fiscal cliff and we'll see what the final offer is to see if they can push it across the finish line. gregg: mike, we're getting word the president has nod no meaningful conversation with anybody own capitol hill, especially john boehner and yet we do hear, that, you know, the seeds have been talking. that staffers have actually been negotiating. what do you hear? >> reporter: that's right. we heard there have been ongoing discussions, taking place throughout the christmas holiday but at this point republicans are saying they took a beating, if you will, trying to lead in the house, a deal that did not go very far. so they're saying, okay, harry reid, senate democrats, see what yo
, which is in session. house republicans say they passed two bills already. on top of the fiscal cliff, there is the milk cliff, which could add to the weekly shopping bill in a big way. early next year, fight about raising the debt ceiling. after the scathing report on september 11 attack in benghazi, libbia, we thought that four mid-level government workers had taken the fall for the security failures at the state department. it turns out that is far from the case. we'll explain. it's been a year since the tornado flattened their church. but only now can the rebuilding begin. all because of red tape. grapevine, why being too attractive cost a woman her job. "special report" from washington starts at 6:00 p.m. eastern. now back to new york and "the five." ♪ ♪ >> welcome back to "the five." shop in saint paul has been warned to stop selling candy smokes with bubble gum cigars after they are trying to prevent kids from trying the real stuff one day. does anyone want to tie it throt is a nexus between candy cigarettes and bubble gum cigars and taking up smoking? any takers? smokers a
are the house will not vote on any fiscal cliff legislation tonight. here is how the potential deal stacks up. they will be taxed at 39.6%. up from 35%. tax on capital gain and individuals for $400,000 for individuals would increase to 20%. from 15%. the alternative minimum tax is permanently indexed to inflation. it has been annual patch. that would be permanent. the plan extent the child tax red earned income tax credit. up to $2,500 tax credit for collision tuition. unemployment benefit are extented for one year. same for the medicare doc fix and the social security payroll tax cut. reverse to rate of 6.2%. those are the deals as they stand right now. although things are developing and they could change. those looking to europe for inspir ration and coming up with american tax rates that target the rich may have to rethink the strategy based on a ruling by a french court. senior foreign affairs correspondent greg palkot has that story. >> proponents of the high taxes in france took a bit of a hit over the weekend. >> the french constitutional council or court ruled plan 75% tax on those ea
he still had a republican house. >> stop the extraordinary fiscal cliff negotiations and go back to regular order and pass a real budget and provide an alternative. >> laura: the democrats also might take that advice to pass a budget. >> stop the games and go back to committee process and let paul ryan do his job and have the big debate. >> let's go to you brad on this. i say this to my republican friends. though are all upset he will do executive fiat and rule making. elections have consequences the old cliche quicks in and it is clear that the president s aggressive and he will use every means at his dice posal and if republicans don't like it he will say make me stop or take me to court and the problem is in court we have very unpredictable judges and justices as we saw with the john roberts ruling on obama care and that relief often times is not going to be there or the damage will already have been done by the time any objection is filed in court. >> you're right and i think the modus operandi is i will try to do it the proper way but if i can't ten, yeah, i will rule by adm
: they are frustrated. they wanted that house republicans to return a lot sooner to work on a fiscal cliff deal. we know that it will not return until sunday, the house, here is democrat chris van hollen from maryland. reporter: this is not a show. the last ditch effort to bring congressional leaders together to try to get at least a small package ordeal together before the new year. in order to avoid some of the tax hurts of the fiscal cliff and unemployment. reporter: while there are discussions about a final fiscal cliff deal, there is finger-pointing going on. the blame game, if you will, if everything falls apart and the u.s. economy goes over the fiscal cliff. harris: i have to tell you that wall street is starting to react for a fifth day of losses on wall street. stocks are reacting, it is the final friday before the fiscal cliff. the dow is a 55-point drop, but it has been lower at that. it is still early in the trading day yet. the forecast for today is not looking good. a fifth day of concern there among investors on wall street. jon: flirting with out 13,000 barrier. part of the looming fisc
. that makes sense. ed henry, live at the white house. >> the fiscal cliff is not the only one in town, congress facing a milk cliff. the farm bill is set to expire new year's day. if an extension is not passed farm policies are reverting to laws from 1949 and dairy costs would skyrocket. one option, a s extension that would at least prevent milk prices from rising. >> the looming fiscal crisis is leaving small business owners on the edge, creating uncertainty. anna spoke with business observers about their fear and joins us live in new york. >> hey there, uncertainty of the looming fiscal cliff is causing small business owners for defensive and unable to plan for the future. economists say businesses are postponing purchases like equipment or merchandise until decisions are made. >> the fact is businesses are holding back on their investments. we see this in official government numbers in terms of private sector spending. we also see it in hiring. >> i spoke to arthur cooper, owner of a internet marketing company, who is concerned the change in tax rates will hurt his ability to hire
this fiscal cliff and the calamity of the day on january 1st, tonight is true the white house dot much care if they get it on the first or the fifth? >> reporter: you're right, with withholding, some people will not feel the effects of a tax increase the first couple of days, you might have time to finagle that, the treasury department has that authority. the fact of the matter, what they're more nervous about in the white house and republicans on the hill are unclear what will happen. will it be a tarp moment like in 2008 when the tarp legislation got voted down and president bush was imploring the fell mrow republicans. it's a bitter pill to swallow. they voted it down and the markets plunged 5, 600, 700 points and everybody figured it out. what's going to happen with the markets, they're closed new years day, but when they open january 2nd, we have several consecutive days the markets have gone down not by a ton, but if they're plunging on january 2nd, that's what they're more nervous about. >> andrea. >> we've heard a lot of names in these behind closed doors talks, we've heard biden, w
, to deal with the fiscal cliff. if you don't like the house's product bring it on the floor of the senate and let's change it. let's start being legislators instead of just a place where ideas go and die in the united states senate, it's embarrassing to me being the most deliberative body in the world and not be able to have a debate about how the fiscal cliff drama should end. we should have had the house bill on the floor months ago. harry reid blocks everything coming from the house, this place is completely dysfunctional and this is why you wait on new year's eve to financed out what is happening, because we don't vote in the senate any more. uma: it's a very troubling and disturbing situation indeed, senator graham. thank you so much for joining us. we are all watching and waiting to see what happens over the next few hours. >> there are a lot of votes in this body to avoid the fiscal cliff if we could just get the body working we would. but i want to end with this note. if there is going to be revenue increases, not one penny should go to growing the government, all the money should
president obama says we're going off the fiscal cliff. we go off the cliff. tax cuts expire, sequestration, they kick it down the road. if president obama then says i'm going to put in tax cuts for anyone making under $250,000 a year. i'm going to call them obama tax cuts. will runs say no to voting for a tax cut? >> well, the interesting question is of course what this comes with. we're at the beginning of a conversation not at the end of a conversation. because we have to decide what to do with the bush tax cuts. that's one thing. we have to decide to do -- what to do with a trillion dollar of obamacare tax increases. very few people are talking about this but there's a trillion dollars of tax increases obamand ad demonstration passed before the last election and 90% of those hikes were delayed until after the president got himself reelected. then we have massive spending, $8 trillion in debt that obama's running up the next decade. republicans have several tools. right now we have very well leverage in the debate over the fiscal cliff because that stuff happens automatically but the ide
cliff if he so chooses. they were elected to get the fiscal house in order. now is the time for republicans to stand up for your kids and grandchildren. maybe she the should say they're looking out for the future, future generations maybe now is the time to take a stabbed stand and say they're not going let washington continue with this out of control spending, debt, maybe now, at this moment, maybe that is the right thing to do. and joining me now with reaction to this developing story are two house republicans, congressman louie gomert. welcome back to "hannity". >> good to be with you. >> sean, i can -- . >> sean: go ahead. >> i can sympathize that he can not imagine our consciences in the house because you'd have to have one to aimagine ours. and he's shown repeatedly, over three years of no budget? come on. jm%lx >>> and first through on december 31. up, hairy reid saying it's time to cut spending not for now, but future generations who arere"Ñde one that's have to pay this off? >> it seems tozc)Ñ my, congressn gomer this has been the bush tax cuts have been lost sin
in big despite the looming fiscal cliff. the interest rate is hitting all time lows in the housing market. where the best places to buy a home in 2013 are. weather across the country how it is affecting travelers. rick says i may get out my snow shoes. that and more coming up on "fox & friends." or you can get out there and actually like something. the lexus december to remember sales event is on. this is the pursuit of perfection. when i say site i don't need the soil i mean the internet site. freedom tower.com was bought by a florida man in 1996. now he wants to sell his business freedom tower accounting and with that the web site as well. if you have a hot temper you may live a little longer. >> a new study says people who express their anger instead of keeping it all inside can live up to 2 years long ever. german researchers holding your feelings can damage your health and a range of diseases. >>> just five days from now every single american is going to get hit with five new taxes to pay for obama care. here are a few examples of them. small business owners will see individual tax i
package they come up with. now that we're days away from actually going off the fiscal cliff where these automatic massive spending cuts as well as large tax increases got into effect you have to have low expectations. it appears the white house is very confident in waiting for the republicans to make the next move. they keep saying inside the white house this is up to the republicans. they're the impediment here. when you listen to senate republican leader mitch mcconnell he basically said yesterday when he got a phone call from the president two nights ago it was the first time he heard from a democrat about the fiscal cliff negotiations, whether the president, senator reid or others in about a month, around thanksgiving. with the democrats not reaching out to senator mcconnell for a month, doesn't seem like they have been pushing very hard for a deal, gregg. gregg: has the bickering between reid and boehner sort of poisoned the negotiations past the point that, you know, maybe this meeting will help at all? >> reporter: it may have because it's really, we've seen tensions escala
of the house. all eyes on our nation's capital will look live now as the fiscal cliff rages on in the fight to come up with some kind of solution. republicans and democrats going back and forth behind closed doors on this sunday after reports of setbacks in negotiations. joining me now for his take on what has gone on now, really, since last night, fox news senior capitol hill producer, chad, good to see you. >> thank you for having me. >> harris: so basically, chad, we're right back where we started because of this setback and these two sides are now breaking up. they've gone home. >> well, in some respects we're back further than we were. it was very remarkable this afternoon when we heard there was a major setback as they start today talk about this changed cpi, change to the the consumer price index and the way they would calculate it for entitlement benefits. that's very serious, it's almost toxic to democrats and the democrats immediately decried this as a poison pill. and again, just how quickly things have changed throughout the day. democratic senator of maryland says it's like a k
get done on the fiscal cliff. negotiations continuing behind closed doors to avoid some of the the most painful tax hikes and spending cuts in our nation's history. at least one republican congressman believes the president really wants the nation to go over the cliff, he so tax rates can rise. joining me now for his take on what's going on, live from the hill right now, house budget committee member, republican south carolina congressman mick mullvaney. thank you for being with us. >> thanks for having me. >> harris: this would be quite an acting job if he really in the end wants us to go off the cliff. >> politicians are good actors. and not only the last couple months, but years, his omb, budget, the money necessary to run the programs he wanted and nancy pelosi tells me there are members in her caucus wants taxes to go up and howard dean not shy saying that taxes should go up on everyone for months. there's a major part of the democrats who want the rates to go up and are public about it. the question, does the president have the interest to stand town that part of t
correspondent mike emanuel kicks off the coverage. mike, where do the things stand in the fiscal cliff talks at this critical late-stage? >> reporter: gregg, there seems to be some hope that conversations between vice president joe biden and senator mitch mcconnell can produce a deal. aides say the two men spoke multiple times last night and will continue working toward a solution. mcconnell called the vice. president bush: after weighing 18 hours from senate majority leader harry reid who seemed to throw in the towel. >> there is still significant difference between two sides and negotiations continue. there is still time left to reach an agreement and we intend to continue negotiations. >> reporter: a big issue is what thresh do you continue the bush tax cuts. the democrats latest proposal, extend expiring tax rates for individuals with taxable income up to $360,000. and couples with income of about $450,000. senate republicans latest proposal allah taxes to rise on $450,000 for individuals and 550,000 for couples. republican aides say the democrats in the senate have not made any addition
take the country over the fiscal cliff if he so chews. republicans were elected to get the fiscal house in order. maybe it's time to stand up for your kids, your grandchildren. maybe they should dig in their heels and say they are looking out for the future and future generations. maybe now is is a time to take a principle stand and say they are not going to let washington continue with the out of control spending, the debts and deficit. maybe now at this moment maybe that's the right thing to do. joining me now with reaction to the developing steer are congressman loui gomert and -- go ahead. >> i can totally with him that he cannot imagine our consciouses in the house because you would have to have one to imagine ours, and he's shown repeatedly over three years of no budget? come on. the guy has to have no conscious or he would have been embarrassed and would have given up leadership on his own if he had any conscious whatsoever. we have passed a bill to deal with the fiscal cliff. congressman, let me go through this. they haven't passed a bill in 1300 days in the united states senate
-ditch attempt to come to an agreement on how to avoid the looming fiscal cliff crisis. but as the hours tick down, neither side is optimistic. what will that mean for the american people? eric? >> again, i am on the record as saying, i was with you this morning saying i think we should name it the obama cliff and i think we should swan dive off of it because it's the only way democrats will cut spending because they are forced into it. if nothing happens, if a deal isn't struck over the next couple of months, people's paychecks will get smaller because payroll taxes will have expired. peopleville to pay in because the alternative minimum tax won't be patched. taxes will go up. spending cuts over time will happen as well. the stock market, i think the stock market will be hit hard. but again, here i am saying, let's do this. i have the most to lose of anyone i know. it's the only way to fix the economy. it's the best thing for the economy. >> okay. take us through what each side is wanting. >> here's what the deal is. president obama wants tax cuts to expire for everyone except those making $
at the last afternoon at the last weekend before this fiscal cliff it is not 100% clear to me whether house companies will choose to take up and pass a plan which i expect we will consider later today in the senate. there are enough republicans and democrats in the senate willing to vote to give comfort to give some relief to the coming tax increase to 98% of americans that i suspect we could get that deal done in the senate. my core question is whether republicans are willing to join us in doing that and reduce the potentially negative impact on our economy and on the overwhelming majority of americans. >> shannon: how do you respond to house republicans who will say we have sent you a couple of bills and voted on something that would stop tax increases and deal with sequester and sent them to the senate where they languish and never get a vote. even if the leadership there doesn't approve of the up, voteng content of the bill on them, amend them, why hasn't that happened? >> great question. what we saw last week is that speaker boehner attempted to pass and failed to pass a bill that woul
days until we fall off that fiscal cliff. the president is cutting his vacation short to return to the white house and try to hammer out a deal. but what will actually happen if we do go over the cliff? doug luzader is live for us with the details. >> it is not going to be pretty. on board air force one heading back to washington from a hawaii after cutting christmas short. can a cup of coffee help as far as christmas is concerned. starbucks is hoping. if you go into a starbucks you will get a message written on your coffee that says come together. this is a company trying to tell the president and lawmakers here they need to come up with some kind of agreement before they go over the fiscal cliff at the end of the year. the senate will be meeting today. this is the first time we have seen legislative business conducted in the weeks between christmas and new years since 1970. the house come back as well but nothing yet. the other thing to consider here the two key players in all of this president obama and republican house speaker john boehner. as far as we know the two of them
the press on saturday. house republicans were cozy and doing nothing on the fiscal cliff. john bone bone took himself out of the negotiations and abdicated responsibility and said he would dole with whatever the senate and president had come to. i happening there is a lot of good proprosals on the table and something will get done, too. >> dave: it appears that senate republicans came a long way in sharing their desire for no taxes raised on the wealthy. $550,000 thres hold for couples is a significant compromise. but can they get anything through the house in terms of getting republican votes today? >> i don't think that will get through the house . the house was elected to protect the united states of additional obama care spipe types of spending . from the perspective it is it a char aid. he wants to raise tax for people with over $200,000 . patti murray tipped the president's hand when she said it is okay to go off the fiscal cliff . we get credit when we cut taxing back to the level they were before the cliff . it is it a political issue for them to attain their goalings. >> dave: s
it is bigger than that. we saw the debt limit fight last summer and fiscal cliff is the first and last chapters in a book that spells the end of the modern republican party. i would say listen, the debt limit last summer was the first time the teparty control house to push us in economic ruin and they were. they lost in november . yet there are members was john bone bone's party that are willing to double down on mistakes and push us again. >> you are ready to jump out of your skin. is that what is happenoglet hill? >> not at all. what we are dealing with is a deal over tax rates. republicans are trying to save ax mayers from taxes rises . next year. president loses his leverage over tax rates which he call would date. we'll fight for spending cuts and entitlement reform. that is it price of debt ceiling and getting rid of sequestration issues . we'll have leverage. democratics need to be carriful about the overcreate. they have leverage and that goes away next year . >> whatif there is a tripped down package in the cent and what kind of posiddings is it that mutt -ute approximate john bone bon
with the white house to find a away to avoid the fiscal cliff. harry reid saying they will meet together sunday to vote on something to can take a vote on. markets slide amid growing fear unable to reach a deadline. a fifth straight day of losses. on this day in 18 the 5. for first time members of the public would pay to see a movie. the brothers were sce
is determining what passed the republican-led house and democrat-controlled senate. fiscal conservatives say a smaller stop gap measure to avoid the cliff won't work. >> if we, in fact, do not use this period of time before right now, deal with the bigger issue and entitlements, if we just continue to kick the can down the road. the market will respond in a more permanent and negative way to our inaction. >> one thing leading republicans and democrats seem to agree on is time is running short. veteran senate democrat says there is a very small window to get something done. >> if we don't have a deal within the next 24 hours, the question is where do you buy a pair of shoes? the closer we get to the end the less likely you will compress agreement in place that will have it pass. >> this struggle over the future of the country some suggest is not that different than what many americans face in their daily lives. >> this is no different than marriage. a lot of marriages fail because they fight over money. that i get heavily in debt and they fight over money issues. we as a nation are right now
decide he wins either way. he passed it in the house or he will blame going over the fiscal cliff on the republicans if they resist. completely in the driver's seat and he will l decide what is on the table at december 31 at 11:00 at night. >> let's look at the national debt clock. we surpassed the $16 trillion mark. $16.4 trillion. interest on the debt is huge. thereon what bayh boy said recently. >> servicing the debt hard now. this is interest rates at record lows. god forbid something should happen to cause interest rates go up a littlement we have seen nothing yet. interest rates eventually will go up. >> doug: in the negotiations we are ignoring the long-term implications of this. >> people are aware of it. >> part of is it the future generations. the damage that it could do if the interest rate goes up in short-term to the economic interest. the market did not retake alarm we're going over the fiscal cliff. in days to come and the prospects for after the cliff is that the market would say this is alarming that washington can't get the act together. we have to deal with the
one more attempt to work out a deal to overt the so-called fiscal cliff. in unison, his pals in the news media repeated this white house talking point. >> president obama cutting short his vacation in hawaii, heading back now to washington. that will happen tonight to work on the fiscal cliff deal. >> the looming fiscal cliff is forcing president obama to cut short his christmas vacation. >> president obama is cutting short his christmas vacation. he is leaving hawaii tonight so that he can be back in washington when congress reconvenes tomorrow. >> laura: so we should believe that by leaving his island enclave that the president was making some big sacrifice for the country? i'm thinking washington, crossing the delaware on a bitter christmas night 1776 before going on to defeat the british in two major battles, that's sacrifice. i, for one, never understood how in good conscious any of these politicians would think about leaving town with so much riding on this cliff hanger? shouldn't they get their work done before they leave town for a break? that's what's expected for mo
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